Picasso Painting sells for Record Price
Posted May 4, 2010on:
A painting by Picasso called “Nude, Green Leaves and Bust” or “Nu au Plateau de Sculpteur,” sold for approximately 106.5 million US Dollars today in a private auction held in New York. The winning bidder has remained anonymous to the public by bidding by phone. The sale was held by the auction house Christie’s and led by head auctioneer Christopher Burge. According to CNN, Silence fell over the packed saleroom as Christopher Burge conducted nine minutes of bidding that involved eight clients,” it said. “Christie’s lead auctioneer took bids from a client in the saleroom as well as those on the phone before the competition settled down to two bidders at the $88 million mark and a one-on-one battle ensued. The final bid was hammered down at 7.32 p.m. at $95 million.” There was also a buyer’s premium attached which is an extra fee that has to be paid to the auction house. That ultimately took the price to 106.5 million. The sale price is the largest ever for a single painting and outdoes the previous record holder “L’Homme Qui Marche I, bronze” (Walking Man 1) which sold back in February 2010 for $104,327,006. The painting had belonged to Los Angeles philanthropist Frances Lasker Brody who passed away last November.